Saudi Arabia-based fintech Bwatech raised $16 million in a funding
round led by Sharaka Financial to accelerate growth and expand market presence.
● Founded in 2020 by Rasha Al-Oraini and Hashem Al Hekail, Bwatech
provides an integrated fintech platform offering digital bank guarantees,
account management, and open banking services, accessible via web,
mobile, and API integrations.
● Operating within the SAMA’s sandbox, Bwatech aims to strengthen
corporate financial efficiency and expand its role in the Kingdom’s digital
financial infrastructure.
Press release:
Bwatech, a Saudi fintech company specialising in corporate financial solutions, has
raised $16 million (SAR 60 million) in a funding round led by Sharaka Financial.
The funding will accelerate Bwatech’s growth and expand its presence in the Saudi
market, strengthening its position as a leading provider of fintech solutions that
enhance corporate and banking efficiency.
Bwatech offers an integrated platform that enables businesses to manage financial
operations with multiple banks, including digital bank guarantees, account
management, and open banking services. Its solutions are available via a web
portal and mobile app, with API integrations for direct, seamless connectivity to
corporate internal systems.
Operating under the SAMA’s regulatory sandbox, Bwatech is building the
infrastructure for more efficient corporate financial management.
Hashim Al Hekail, Founder and Chairman of Bwatech, said, “This round marks a
pivotal step toward building a more efficient digital financial infrastructure for
businesses, and we are pleased to have the trust of partners who share our vision
for growth and expansion.”
Source: wamda.com
